01/06/2026
This Month in Tax History for June
Did you know?
In June 1991, South Africa introduced VAT, replacing the General Sales Tax system. The new tax was introduced at a rate of 10% and has since become a cornerstone of government revenue collection.
Today, VAT is used in over 170 countries and remains one of the most effective indirect tax systems globally.
Tax Insight: The evolution of tax systems reflects changing economic realities. Understanding tax history helps us appreciate why modern tax policies exist and how they continue to shape business and society.